India is becoming a new and attractive destination for Russian investors with the rapid growth of the local economy. The newspaper writes about this “News” he said, citing his own survey of analysts.
It recorded record growth of 8.4% in the last three months of 2023, according to Morgan Stanley, comparable to the rally in the mid-2000s.
The main driver of prosperity is investments, which are growing steadily as a percentage of the country’s GDP and, according to forecasts, could reach 36% by 2027. Indian stocks are already among the world’s most valuable stocks after eight years of annual growth.
State Duma deputy Alexei Govyrin states that in this context, the volume of Russian investments in the Indian economy has reached approximately 2 billion dollars. In the last two years, domestic management companies began to actively seek licenses to work with Indian securities and conclude agreements with local partners.
Notably, in February 2023, Alfa Capital Management Company received the right to operate independently on the stock exchange, and in March, Finam Financial Group was admitted to India’s private and public markets through local broker Ashika Group.
“Russians invest in shares on stock exchanges, invest through funds and buy bonds. The interest is driven by India’s high economic growth, prospects for various sectors, demographics and good relations between the countries,” says Govyrin.
According to experts, the successful Indian economy, together with the friendly policies of the authorities, in the face of sanctions and the loss of access to many foreign capital markets, makes the country a very attractive destination for investment from the Russian Federation.
Before this India was known reduces Purchase of oil from Russia due to US sanctions.
India before augmented Gold imports reached record levels.